A somewhat eye opening white paper created by Opinium Research & Marke2ing reveals that UK businesses are lagging both US and Germany when it comes to peer to peer lending. Peer to peer lending essentially seeks to cut out the middle man and allow businesses, and individuals to lend directly to one another.
The peer to peer lending trend is set to grow in the future, as the lethargic and sparse borrowing currently provided by major banks is damaging the growth and survival prospects of many UK SME’s. The research shows less than half of UK firms have used, or would be open to, peer to peer lending compared to 56% in Germany and an impressive 67% in the US.